17 Jul 2015

Farm price rise despite drop in sales

10:32 am on 17 July 2015

Farm sales are down again, but prices are still rising, continuing the trend seen so far this year.

Latest statistics from the Real Estate Institute show about 480 farms were sold in the three months ending in June, 62 fewer than a year ago.

The median price per hectare rose by almost 10 percent to just over $29,000.

The number of dairy farms sold was also down on a year ago, but there was only a small increase in their median price of about $35,500 a hectare.

Lifestyle block sales were up by almost a third on a year ago. The value of sales for the past 12 months has topped the $5 billion mark for the first time.